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  • #5,801
  • Mar 16, 2010 6:26pm Mar 16, 2010 6:26pm
Your stop loss is to tight ... at this time of day you will get stopped out before trade works

choices .. take profit...15 pip better than kick in arse come back tomorrow with a fresh slate
or place stop under 1.3680 with tp 1.4000. 1:2 risk reward.


Quoting wannaberich
just saw your post on the EU thread about that.

i have SL at BE 15 pips away...

am considering lowering it to bellow 3737 (daily pivot) looking at those 20 pips as "another entry".

very doubtfull. my plan (that i keep desrepecting) is to trade what i see and right now i see red candles so i should close and get 15 pips or so. but i really think that tomorrow could be the lift off of the eu breaking clearly out of the range/rounded bottom.

and also i am tired. not good for decisions...
Blogging daily now at www.volume.zone
  • #5,802
  • Mar 16, 2010 6:33pm Mar 16, 2010 6:33pm
17 pips. i hear that tomorrow the markets are open, right?

still another day with trades of 30-40 pips that came down to be.

i am thinking of entering my trades with a fixed sl of 20 pips and tp of 40. sounds stupid?



Quoting malcolmb14
Your stop loss is to tight ... at this time of day you will get stopped out before trade works

choices .. take profit...15 pip better than kick in arse come back tomorrow with a fresh slate
or place stop under 1.3680 with tp 1.4000. 1:2 risk reward.
dreams do come true.
  • #5,803
  • Mar 16, 2010 6:44pm Mar 16, 2010 6:44pm
Malcom,

you said your timezone is set to london close? or was it open? surely you have totally different values for pivots open and closes with that. arent daily candles closed at new york close?

confused here...
dreams do come true.
  • #5,804
  • Mar 16, 2010 6:49pm Mar 16, 2010 6:49pm
Quoting wannaberich
Malcom,

you said your timezone is set to london close? or was it open? surely you have totally different values for pivots open and closes with that. arent daily candles closed at new york close?

confused here...
This is the very reaosn in fx that I hate using daily pivots. Go to any forum and ask what their daily pivot is .... everyone will have something different.

I use London open to 1 min before london open as my 24 hour period.

I also use high volume or point of control areas for the last 20 sessions as my ' pivots' also s/r lines are much more helpful than daily pivots

the attached chart the dashed lines are the high volume pivots for the last 20 days , see how price plays around them ? 1..5250 breaks out target is 1.5330. Pretty simple right

Attached Image (click to enlarge)
Click to Enlarge Name: chart04b.jpg Size: 163 KB
Blogging daily now at www.volume.zone
  • #5,805
  • Mar 16, 2010 7:02pm Mar 16, 2010 7:02pm
about something i was messing around?

it was exactly that! LOL

i used that indi (market statistics) u sent me a spent a couple of days looking at it. really put my 2 neurons to work there and i found out how volume should react for price to go to either side of the histogram. and it does give great indications as to resistance levels. i got a little away from it because i felt it was only good for ranging markets as for trending (if your going torwards new values) there will be no historical volume there in the last 2 weeks (it was the amount of back data i looked at. also tried 6 months but the pc almost stops!).

anyway it's funny to know u use it! what do you do when we go to newer "levels" of price? how do you see were the obstacles will be? i saw this as we aproached the limits of the histogram i was looking at (as we got past the 1.37 there was nothing to look at...



Quoting malcolmb14
This is the very reaosn in fx that I hate using daily pivots. Go to any forum and ask what their daily pivot is .... everyone will have something different.

I use London open to 1 min before london open as my 24 hour period.

I also use high volume or point of control areas for the last 20 sessions as my ' pivots' also s/r lines are much more helpful than daily pivots

the attached chart the dashed lines are the high volume pivots for the last 20 days , see how price plays around them ? 1..5250 breaks out target is 1.5330. Pretty simple...
Attached Image (click to enlarge)
Click to Enlarge Name: Forex.jpg Size: 112 KB
dreams do come true.
  • #5,806
  • Mar 16, 2010 7:43pm Mar 16, 2010 7:43pm
Quote
I use London open to 1 min before london open as my 24 hour period.
I have been reading tread for a while but now want to post because talk is about my research for almost a year)
I use London Close to Close cycle for days but for open/close high/low price use just London session alone, If you draw +25 and -25 lines from london CLOSE price it makes a perfect sense for pairs like GU/GJ/EU if price goes away of corridor on high volume and u get ur weakness/strength signs from past session this 90% good trade, and like malcolmb said never sell above and buy below i can just add that some time 55ma is useful to determine if price is break corridor well enough.

Question to malcolmb:
How you manage to use open-open cycle? you did a research and tried different combination or you just empirically found this cycle convenient for for you? And what bars/time frame are you using to find prices points?
“buy the rumor, sell the news”
  • #5,807
  • Mar 16, 2010 7:49pm Mar 16, 2010 7:49pm
Quoting Intel
Hi TC, Malcolmb,

What do you think about USD/JPY?
Hi, just responding to this pretty late. I'm certainly not in same category as Malcolmb yet, but just taking a quick look at your chart, I would have been interested in a short just because price had reached an area of strong resistance and was stalling, even VSA aside.

I like to look for entries at strong S&R, with some VSA action/signals at the S&R to help confirm entry. Pretty basic stuff, but it works.

From your chart, I'd say you had reasons to enter short (price at resistance, upthrust-ish bar showing weakness, decreasing vol on the upmove, etc.). Seems fairly safe to me, in that you could have placed a relatively tight stop just above resistance, and had plenty of room to the downside.

Of course is hindsight now, but looks like it worked out. Hope you made some pips...
  • #5,808
  • Mar 16, 2010 8:55pm Mar 16, 2010 8:55pm
Quoting malcolmb14
this is how to play a reversal day,

always make sure that once you enter a trade to have enough room to allow price to move to close of prior day if selling at high of prior day. On this trade your stop would have been above high of prior day

Attachment
Quoting malcolmb14
Also , and I have said this to you before , NEVER take a sell when price is above prior days close.... no matter how good it looks. This very simple rule has kept me out of a lot of bad situations. On days when price is above yesterdays close look for buy dips , even if you miss a trade no big deal. If price is under yesterdays close look to sell rallies.
Mal. Help me out here, it appears that this would be a sell above yesterday's close. Is it not?
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #5,809
  • Mar 16, 2010 9:01pm Mar 16, 2010 9:01pm
Quoting HiddenGap
Mal. Help me out here, it appears that this would be a sell above yesterday's close. Is it not?

smart arse ...lol. Trust you to pick that up !!!

Did I not mention in the post it was for more advanced traders ? lol

ok sticking to rule you can only sell once we get under prior days close ....

Attached Image (click to enlarge)
Click to Enlarge Name: chart1978.png Size: 206 KB
Blogging daily now at www.volume.zone
  • #5,810
  • Mar 16, 2010 10:03pm Mar 16, 2010 10:03pm
I agree, I bugs me too. They do it with Fib and Gann numbers too.
Quoting malcolmb14
This is the very reaosn in fx that I hate using daily pivots. Go to any forum and ask what their daily pivot is .... everyone will have something different.
  • #5,811
  • Mar 17, 2010 2:31am Mar 17, 2010 2:31am
How about the Point of Control? Do you also take London Open as a new session start with respect to Point of Control? Thanks!

Quoting malcolmb14
This is the very reaosn in fx that I hate using daily pivots. Go to any forum and ask what their daily pivot is .... everyone will have something different.

I use London open to 1 min before london open as my 24 hour period.

I also use high volume or point of control areas for the last 20 sessions as my ' pivots' also s/r lines are much more helpful than daily pivots

the attached chart the dashed lines are the high volume pivots for the last 20 days , see how price plays around them ? 1..5250 breaks out target...
  • #5,812
  • Mar 17, 2010 2:42am Mar 17, 2010 2:42am
Quoting polomine
How about the Point of Control? Do you also take London Open as a new session start with respect to Point of Control? Thanks!
yes for sure
Blogging daily now at www.volume.zone
  • #5,813
  • Mar 17, 2010 2:58am Mar 17, 2010 2:58am
Quoting malcolmb14
smart arse ...lol. Trust you to pick that up !!!

Did I not mention in the post it was for more advanced traders ? lol

ok sticking to rule you can only sell once we get under prior days close ....

Attachment
Hi Malcolm, do you think someone who buys the tradeguider esignal plugin can get away with using that instead of buying the entire tradeguider software?

or do you think it's better to get the full version outright
  • #5,814
  • Mar 17, 2010 3:01am Mar 17, 2010 3:01am
Quoting rogerdoger
Hi Malcolm, do you think someone who buys the tradeguider esignal plugin can get away with using that instead of buying the entire tradeguider software?

or do you think it's better to get the full version outright
go for full version if you can afford it.

I love multiple time frames on watch list
Blogging daily now at www.volume.zone
  • #5,815
  • Mar 17, 2010 3:08am Mar 17, 2010 3:08am
Quoting malcolmb14
go for full version if you can afford it.

I love multiple time frames on watch list
and you'd recommend it as a pretty wise investment?

does it work as advertised (i.e. no repainting or funny business on their end)?
  • #5,816
  • Mar 17, 2010 4:01am Mar 17, 2010 4:01am
Does anyone have an indi for drawing the prev days close, high and low please?

It would be nice if you can choose the times at which we use for close, high and low.
  • #5,817
  • Mar 17, 2010 4:05am Mar 17, 2010 4:05am
EU H1

Confirmed UT on very high volume. Possible short. See next few what the bars say.

Dont look at where the price is Malcolmb (he might shout at me!!!!)
  • #5,818
  • Mar 17, 2010 4:14am Mar 17, 2010 4:14am
Quoting Intel
EU H1

Confirmed UT on very high volume. Possible short. See next few what the bars say.

Dont look at where the price is Malcolmb (he might shout at me!!!!)
i agree on this one ....

watching for up move on 10 with no demand for confirmation
Blogging daily now at www.volume.zone
  • #5,819
  • Mar 17, 2010 4:14am Mar 17, 2010 4:14am
EG H1

2 UT style bars (niether is perfect but I think the sentiment might be there) on very high and high volume. Showing signs of supply.

See what happens next!
  • #5,820
  • Mar 17, 2010 4:17am Mar 17, 2010 4:17am
Quoting malcolmb14
i agree on this one ....

watching for up move on 10 with no demand for confirmation

Ohhh..... M10 again

Does anyone know how to get a 10 chart in MT4 THAT UPDATES AUTOMATICALY please?
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